The NHL will enter free agency on July 1, which will allow players whose contracts have expired to freely negotiate, and sign, contracts with other teams. Teuvo Teravainen, Jonathan Marchessault, and Steven Stamkos will all be entering free agency as unrestricted free agents (UFAs) this year.
As an unrestricted free agent, these players can potentially negotiate higher-paid contracts with cup-contention teams. Or, they can fall by the wayside and find themselves either with a less-than-ideal contract or without a contract at all. For teams, it’s a great way to snag high-caliber players without having to part ways with draft picks or other capital in a trade, and an opportunity to reevaluate their rosters and part ways with underperforming players without having to shop them around.
Could Steven Stamkos Return as Lightning Bolts Captain?
It’s hard to picture Steven Stamkos anywhere but the Tampa Bay Lightning. After all, not only has he won two Stanley Cups with the team in back-to-back seasons (2019-20, 2020-21) but he’s been a part of the organization for 16 seasons and has helmed it as captain since 2014. Stamkos has only ever played for one NHL franchise, and it’s the Lightning; he was drafted first overall by the team in 2008.
His expiring eight-year contract was signed in 2016, with a total cap hit of $8,500,000, but he may be hard-pressed to sign a contract for that same amount of money this go around. The Lightning have already bolstered their roster with Ryan McDonagh, and as a result, are a bit squeezed for cap space. According to CapFriendly, the team has just over $5 million to spare, although the Lightning still have plenty of time to free up some cap space by moving contracts to re-sign Stamkos if need be.
Stamkos has won the Maurice “Rocket” Richard Trophy twice (2011-12, 2009-10), and the Mark Messier NHL Leadership Award once, just this past season. He’s the face of the Lightning franchise and has always been a strong presence on the ice for the Lightning’s postseasons. In the 2023-24 playoffs, Stamkos posted 5 goals and 1 assist for 6 points in 5 games. In the regular season, Stamkos had 40 goals and 41 assists for a total of 81 points in 79 games.
